Fund title: Inventor Prize
Focus of fund/fund aims:
Prize fund for individuals and small organisations to develop innovative products with a clear public benefit
22 October 2017
The new Inventor Prize is looking for the UK’s best inventions that help make people’s lives better. NESTA has launched this pilot initiative, with funding from the Department for Business, Energy and Industrial Strategy, and will support innovative and exciting new products that haven’t been on sale before.
Entries are invited from individual inventors, small teams and small companies, based or residing in the UK.
To be eligible, entrants will have to have a working model of their product that demonstrates what the product is able to do. Entrants must be able to explain how their invention will help make the lives of people in the UK better.
10 finalists will be selected to each receive £5,000 and bespoke mentoring to develop their product. The overall winner of the Inventor Prize will be announced in September 2018 and will receive £50,000 to make their dream a reality. Two more promising products will also receive runner up prizes of £5,000 and £15,000.
Intellectual property will remain with the entrant, however, entrants must be willing to publicly share an outline of their product.